Chairman/CEO, Innoson Vehicle Manufacturing, IVM, Chief Innocent Chukwuma, has revealed that his company only imports engine and light, as all the electrical aspects and other equipment are sourced in-country.
According to Vanguardngr, Innoson said this when Chairman/Group CEO of Oilserv Group, Dr. Emeka Okwuosa, commended IVM during the tour of the manufacturing plant in Nnewi, Anambra State, to encourage local content.
He said this when Oilserv Group, an oil and gas company in Nigeria has partnered with Innoson Vehicle Motors, IVM, to support local production of automobiles in Nigeria.
“We are partnering with IVM on vehicles that are going to be used in our oil and gas industry operations. We are partnering with IVM in the area of conceptualisation, manufacturing and use of local automobiles.”
The Oilserv Chairman, who noted that the company is a testimony to the development of local capacity in Nigeria, added that since the second quarter of 2020, it has procured N600 million worth of automobiles from IVM.
In his remarks, Chief Innocent Chukwuma, Chairman/CEO, IVM, lauded Oilserv management for its support towards promoting local capacity, while urging other companies and individuals to do the same.
Chukwuma said that IVM sources about 60 percent of its materials in-country, adding that it remains a 100 percent manufacturing company and not an assembling outfit.
According to him, “IVM only imports engine and light while all the electrical aspects and other equipment are sourced in-country.”
Commenting on the partnership, Chukwuma Nkwodinmah, Group Head, Supply Chain, Oilserv Limited said that the partnership has gone a long way in promoting local capacity.